Gabelli Funds LLC Decreases Stake in International Business Machines Corporation $IBM

Key Points

• Gabelli Funds LLC has reduced its stake in International Business Machines Corporation (IBM) by 13.7%, now owning 23,480 shares worth approximately $5.84 million.
• In the first quarter, several institutional investors adjusted their positions in IBM, with Caisse DE Depot ET Placement DU Quebec significantly increasing its stake by 38.3%.
• IBM's stock currently has a consensus rating of "Hold" with an average price target of $268.75, amidst various brokerages raising or adjusting their price targets recently.

Gabelli Funds LLC lowered its position in International Business Machines Corporation (NYSE:IBM - Free Report) by 13.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 23,480 shares of the technology company's stock after selling 3,715 shares during the period. Gabelli Funds LLC's holdings in International Business Machines were worth $5,839,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FORA Capital LLC acquired a new stake in shares of International Business Machines in the 1st quarter worth $517,000. Widmann Financial Services Inc. increased its stake in shares of International Business Machines by 2.0% in the 1st quarter. Widmann Financial Services Inc. now owns 15,089 shares of the technology company's stock worth $3,752,000 after acquiring an additional 293 shares during the last quarter. Orion Capital Management LLC increased its stake in shares of International Business Machines by 37.3% in the 1st quarter. Orion Capital Management LLC now owns 3,403 shares of the technology company's stock worth $846,000 after acquiring an additional 924 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of International Business Machines by 38.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 330,222 shares of the technology company's stock worth $82,113,000 after acquiring an additional 91,468 shares during the last quarter. Finally, NCM Capital Management LLC increased its stake in shares of International Business Machines by 2.0% in the 1st quarter. NCM Capital Management LLC now owns 5,920 shares of the technology company's stock worth $1,472,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on IBM. Wedbush raised their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Melius Research raised International Business Machines to a "strong-buy" rating in a research report on Monday, July 7th. UBS Group raised their price objective on International Business Machines from $195.00 to $200.00 and gave the stock a "sell" rating in a research report on Thursday, July 24th. Bank of America cut their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada raised their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and an average price target of $268.75.

International Business Machines Stock Performance

NYSE IBM opened at $245.80 on Friday. The stock has a 50-day moving average of $266.46 and a two-hundred day moving average of $257.71. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company has a market cap of $228.45 billion, a P/E ratio of 39.90, a P/E/G ratio of 3.77 and a beta of 0.69. International Business Machines Corporation has a 1-year low of $198.27 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. As a group, analysts anticipate that International Business Machines Corporation will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be given a dividend of $1.68 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $6.72 annualized dividend and a yield of 2.7%. International Business Machines's payout ratio is 109.09%.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.

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